The ADX Candles Buy & Sell Forex indicator for MT4 displays the trend in the form of colored candles.
ADX Candles consists of +DMI+ and -DMI without ADX trend strength.
You can’t go wrong with this indicator if you like trading with ADX.
- A buy trend occurs when the +DMI+ is above -DMI. The candles will be colored green.
- A sell trend occurs when the +DMI+ is below -DMI. The candles will be colored red.
The indicator works on all trading instruments.
Indicator Example Chart (USD/JPY H4)
How to trade with it (example)?
Consider to open a long position as soon as the ADX buy/sell Forex indicator prints green candles on the chart.
Consider to open a short position as soon as the ADX buy/sell Forex indicator prints red candles on the chart.
Exit the trade for a fixed profit target, or when an opposite trading signal appears on the chart.
Place a stop loss above or below the previous swing high/low price.
Feel free to use your own favorite trading method to open and close trades with the ADX Candles Forex indicator.
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: ADX period, ADS signal level, bar width, candle width, color settings & style
Indicator type: ADX
Repaint? Does not repaint the colored ADX buy and sell candles on the chart.
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the adx-candles-indicator.ex4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.